Glenmark Pharmaceuticals Ltd (GPL) has agreed to divest 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma Limited at a price of Rs 615 per share, implying an equity valuation of Rs 7,535.4 crore.
Category: Corporate
SpiceJet CMD, complainant settle shares transfer dispute, HC told
The Delhi High Court was on Thursday informed that low-cost airline SpiceJet's Chairman and Managing Director Ajay Singh and a Delhi businessman have come into terms with settling a dispute between them regarding the shares.
Legal action by Akasa Air: Over 40 pilots face lawsuit for abrupt resignations
Akasa Air has initiated legal action against more than 40 pilots who recently left the airline to join other carriers. This sudden departure of pilots has compelled the airline, which commenced operations in August of the previous year, to cancel numerous flights since the previous month.
SpiceJet disburses Rs 100 cr to Kalanithi Maran as part of arbitral award
SpiceJet has paid Rs 100 crore to Kal Airways promoter Kalanithi Maran, as part of a Rs 380 crore arbitral award order, following a directive from the Delhi High Court, instructing the low-cost airline to fulfill the payment obligation.
Not in negotiations to acquire Haldiram’s: Tata Consumer
“We are not aware of any information that has not been announced to the Exchanges, which requires disclosures under Regulation 30 of the SEBI (LODR) Regulations, 2015”, Tata Consumer said.
India's GDP growth stands at 7.8% for first quarter of 2023-24, lesser than RBI's estimate of 8%
India's economic growth stood at 7.8 per cent in the first quarter (April-June) of the current fiscal, a steep fall from 13.1 per cent GDP growth recorded in the corresponding period of last year, according to data released by the ministry of statistics and programme implementation on Thursday.
Combined index of 8 core industries increases by 8% in July 2023
The production of coal, steel, natural gas, cement, electricity, refinery products, fertilisers and crude oil increased in July 2023 over the corresponding month of last year.
Adani Group rejects OCCRP allegations on stock manipulation
“These claims are based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over invoicing, transfer of funds abroad, related party transactions and investments through FPIs.
Today I see both my father Dhirubhai and me in Isha, Akash, and Anant: Mukesh Ambani
Reliance Industries Chairman and Managing Director Mukesh Ambani on Monday said that he sees "both my father and me in Isha, Akash, and Anant. I see the flame of (founder) Dhirubhai (Ambani) shine in all of them".
JioAirFiber to be launched on September 19
“This leaves millions of potential customers without home broadband due to complexities and delays involved in extending optical fibre to their premises. This is where JioAirFiber, our fixed-wireless broadband offering, comes in”, he said.
OPPO pays 23% of its India sales to Nokia as per court order
Global smartphone brand OPPO has deposited with the Delhi High Court 23 per cent of the amount generated from its sales in India for infringing upon Nokia's patent, reliable sources told IANS on Monday.
India gets its 1st unicorn of 2023 in Zepto which raises $200 mn
Ending the unicorn drought in India amid the ongoing funding winter, online grocery company Zepto on Friday announced it has raised $200 million in its Series E round, valuing the company at $1.4 billion.
Jio Financial Services to be listed on stock exchanges on Monday
BSE has informed trading members of the Exchange that effective from Monday (August 21), the equity shares of Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities.
Gangwal family raising $450m through block deal in Interglobe Aviation
The Gangwal family of Interglobe Aviation is reportedly raising $450 million or around Rs 3,735 crore via a block trade in the ongoing stake reduction exercise of the co-founder of Indigo Airlines, Rakesh Gangwal, as per media reports.
Centre hikes windfall tax on crude, diesel and jet fuel
The government on Monday raised the windfall tax on domestically-produced crude, diesel and aviation turbine fuel (ATF) or jet fuel. The windfall tax on crude oil will increase from Rs 4,250 to Rs 7,100 per tonne, according to a gazette notification issued on Monday.
Zee Entertainment stock jumps 15% after NCLT clears Sony merger
ZEEL’s 1Q results exceeded expectations with Revenue/EBITDA coming 6 per cent/29 per cent above abobe estimate, JM Financial Institutional Securities said in a report.
Reliance ARC challenges RBI Circular on Swiss Challenge as being discriminatory and arbitrary
The Reliance Asset Reconstruction Company (RARC), a subsidiary of Reliance Capital Ltd., has challenged the Reserve Bank of India's Master Circular on the Swiss Challenge Mechanism as being discriminatory, unjust and arbitrary.
Pluckk, India's leading lifestyle-oriented fresh fruits & vegetables brand, partners with KareenaKapoor Khan as Investor & Brand Ambassador
Pluckk, India's leading lifestyle-oriented fresh fruit and vegetables brand, is proud to announce its exciting partnership with renowned Bollywood actress Kareena Kapoor Khan.
BGMI maker Krafton pledges $150 mn investment in India
Beyond game development studios, the company’s investments span diverse and complementary sectors, including, Esports, multimedia entertainment, content creation and audio platforms.
Bharti Airtel rolls out 5G on 26 GHz spectrum across all 22 telecom circles
The roll-out has been done in accordance to the norms set by the Department of Telecommunications (DoT) for complying to the minimum roll-out obligation criteria, the telecom major said in a statement.
BigBasket’s B2B arm Supermarket Grocery Supplies’ losses swell 21%: Report
Tata Group-owned BigBasket’s B2B arm Supermarket Grocery Supplies Pvt Ltd’s losses widened 21 per cent to Rs 215.2 crore in FY23, the media reported on Wednesday.
SC dismisses Go First plea against Delhi HC order allowing lessors to inspect, carry out maintenance of their aircraft
The Supreme Court on Monday refused to interfere with the order of the Delhi High Court allowing aircraft lessors of cash-strapped Go First airline to inspect their aircraft at least twice a month to carry out maintenance work.
Domestic investors holding declined in June quarter
According to Pranav Haldea, Managing Director, Prime Database Group, this was on account of profit booking by LIC, mutual funds as also retail and HNI investors with markets reaching all-time highs. Net inflows from DIIs stood at just Rs 3,368 crore during the quarter.
SC dismisses OPPO’s challenge to HC order directing it to pay 23% of India sales to Nokia
In a significant ruling, the Supreme Court on Friday dismissed Chinese smartphone brand OPPO’s plea against a Delhi High Court order which directed the company to deposit 23 per cent of the amount generated from its sales in the country for infringing upon Nokia's patent.
Nykaa CEO Nayar to take charge of marketing after 6 executives quit: Report
Beauty and fashion ecommerce giant Nykaa's CEO Falguni Nayar will now lead herself lead the marketing department of the company after the exit of six executives, including the marketing head, according to media reports.